Saba Capital Management, L.P. Sells 25,913 Shares of Eaton Vance California Municipal Income Trust (NYSE:CEV) Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 25,913 shares of Eaton Vance California Municipal Income Trust stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.90, for a total transaction of $282,451.70. Following the completion of the transaction, the insider now directly owns 756,832 shares of the company’s stock, valued at approximately $8,249,468.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, September 26th, Saba Capital Management, L.P. sold 21,340 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.80, for a total value of $230,472.00.
• On Monday, September 23rd, Saba Capital Management, L.P. sold 15,017 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.83, for a total value of $162,634.11.
• On Wednesday, September 18th, Saba Capital Management, L.P. sold 28,682 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.89, for a total value of $312,346.98.
• On Monday, September 16th, Saba Capital Management, L.P. sold 11,503 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $11.02, for a total value of $126,763.06.
• On Friday, September 13th, Saba Capital Management, L.P. sold 23,665 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $11.03, for a total value of $261,024.95.

Eaton Vance California Municipal Income Trust Trading Down 0.6 %

CEV stock opened at $10.80 on Friday. Eaton Vance California Municipal Income Trust has a 1 year low of $8.83 and a 1 year high of $11.29. The stock’s fifty day moving average is $10.97 and its two-hundred day moving average is $10.78.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 11th will be paid a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date is Friday, October 11th.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of CEV. Napa Wealth Management bought a new stake in shares of Eaton Vance California Municipal Income Trust during the fourth quarter valued at about $665,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Eaton Vance California Municipal Income Trust by 37.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock valued at $1,895,000 after purchasing an additional 47,514 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust during the second quarter valued at about $328,000. Finally, Cypress Wealth Services LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust during the first quarter valued at about $335,000. 35.88% of the stock is currently owned by institutional investors.

About Eaton Vance California Municipal Income Trust

Eaton Vance California Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Eaton Vance Management. It invests in the fixed income markets. The fund invests primarily in debt securities issued by education, hospital, housing, insured-education, insured-electric utilities, insured-hospital, insured-transportation, insured-water and sewer, transportation, and other sectors.